Fintech TransferGo to donate money to Lithuanian fund Jaunaragiai

Fintech TransferGo, founded by Lithuanian entrepreneurs, will donate money to the Lithuanian fund Jaunaragiai. The amount of donation from TransferGo is not disclosed. In addition, TransferGo may provide more funding to Jaunaragiai in the future.

Founded in March 2023, Jaunaragiai is an evergreen fund for investments in various types of startups, whose founders have completed the educational program for young entrepreneurs Lithuanian Junior Achievement. The initial ticket for startups is €20K. It aims to co-invest with accelerators, business angels, and early-stage funds in startups at the pre-seed stage. The fund plans to raise up to €1M in the coming years. 

The board of Jaunaragiai consists of Martynas Kandzeras, Andželika Rusteikienė (CEO of Lithuanian Junior Achievement), Vladas Lašas, Milda Mitkutė (founder of Lithuanian unicorn Vinted), Tomas Moška (co-founder of the web3 coding school Turing College), Greta Monstavičė (co-founder and CEO of Lithuanian accelerator Katalista Ventures), Mariano Andrade Gonzalez (head of the Lithuanian branch of Moody's), Marijus Andrijauskas (partner of Lithuanian accelerator Firstpick), and others.

Founded in 2012 in Great Britain by Lithuanian entrepreneurs Daumantas Dvilinskas, Justinas Lasevicius, Edvinas Sersniovas, and Arnas Lukosius, TransferGo is a consumer platform for global money transfers. It can handle both personal and business transfers on a digital account-to-account model. The money transfer service works with 22 currencies in more than 160 countries and provides financial services to 7M people. TransferGo has offices in London, Vilnius, Berlin, Istanbul, and Warsaw.